If other countries are racing to develop or explore cryptocurrencies, Russia also refuses to be left behind in making major reforms.
Russian lawmakers are reportedly working on amendments to launch a national crypto exchanger backed by the Ministry of Finance and the Central Bank of Russia.
Although the two sides previously had different views on crypto regulation, the Ministry of Finance and the Russian Central Bank have now opened their eyes to helping Russia become a crypto hub.
Explained, members of the lower house of the Russian parliament, the Duma and market stakeholders have discussed an amendment to the country's crypto law that includes a legal framework related to the national exchanger to be presented to the central bank.
According to the head of the Financial Market Committee of the Duma, Anatoly Aksakov, a proposal to establish a Russian national crypto exchanger on the Moscow Exchange was presented by him in June.
Therefore, the Moscow Exchange wasted no time in drafting a bill on behalf of the central bank in allowing digital financial assets to be traded.
Meanwhile, the Duma has introduced a bill that could allow various parties to mine crypto or sell digital assets.
Although Russian currency regulations will not apply to any transaction, it must still be reported to the Russian tax service.
